Banco Santander S.A. Acquires 2,979 Shares of Deere & Company (NYSE:DE)

Key Points

• Banco Santander S.A. increased its stake in Deere & Company by 20.2%, owning 17,705 shares valued at approximately $8.31 million as of the latest report.
• Deere & Company reported Q1 earnings per share of $6.64, exceeding analysts' expectations of $5.72, despite a 17.9% decline in revenue year-over-year.
• The company announced a quarterly dividend of $1.62, reflecting a 1.3% dividend yield and a payout ratio of 31.35%.

Banco Santander S.A. increased its stake in Deere & Company (NYSE:DE - Free Report) by 20.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 17,705 shares of the industrial products company's stock after purchasing an additional 2,979 shares during the quarter. Banco Santander S.A.'s holdings in Deere & Company were worth $8,310,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in DE. Hughes Financial Services LLC acquired a new position in shares of Deere & Company during the first quarter worth approximately $29,000. Cornerstone Planning Group LLC lifted its holdings in shares of Deere & Company by 116.1% during the first quarter. Cornerstone Planning Group LLC now owns 67 shares of the industrial products company's stock worth $31,000 after buying an additional 36 shares during the last quarter. Orion Capital Management LLC acquired a new position in shares of Deere & Company during the fourth quarter worth approximately $34,000. Mascagni Wealth Management Inc. acquired a new position in shares of Deere & Company during the fourth quarter worth approximately $39,000. Finally, Dogwood Wealth Management LLC acquired a new position in shares of Deere & Company during the fourth quarter worth approximately $42,000. 68.58% of the stock is currently owned by institutional investors and hedge funds.

Deere & Company Price Performance

Deere & Company stock traded down $5.72 during mid-day trading on Tuesday, hitting $504.84. 226,082 shares of the company were exchanged, compared to its average volume of 1,335,027. The company has a quick ratio of 1.89, a current ratio of 2.11 and a debt-to-equity ratio of 1.76. The business has a fifty day moving average of $512.28 and a 200 day moving average of $488.12. Deere & Company has a 1-year low of $342.70 and a 1-year high of $533.78. The company has a market capitalization of $136.72 billion, a PE ratio of 24.45, a price-to-earnings-growth ratio of 3.18 and a beta of 1.06.

Deere & Company (NYSE:DE - Get Free Report) last announced its earnings results on Thursday, May 15th. The industrial products company reported $6.64 EPS for the quarter, topping the consensus estimate of $5.72 by $0.92. The company had revenue of $11.17 billion for the quarter, compared to analysts' expectations of $10.80 billion. Deere & Company had a return on equity of 24.39% and a net margin of 12.40%. The business's revenue for the quarter was down 17.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $8.53 earnings per share. As a group, sell-side analysts expect that Deere & Company will post 19.32 earnings per share for the current year.

Deere & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, August 8th. Stockholders of record on Monday, June 30th will be issued a dividend of $1.62 per share. This represents a $6.48 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Monday, June 30th. Deere & Company's dividend payout ratio is presently 31.35%.

Analysts Set New Price Targets

DE has been the subject of a number of research analyst reports. Melius Research upgraded Deere & Company from a "hold" rating to a "strong-buy" rating in a report on Friday, June 6th. JPMorgan Chase & Co. upped their price target on Deere & Company from $490.00 to $540.00 and gave the stock a "neutral" rating in a report on Friday, May 16th. Barclays upped their price target on Deere & Company from $475.00 to $530.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. Oppenheimer upped their target price on Deere & Company from $555.00 to $560.00 and gave the company an "outperform" rating in a research note on Tuesday, July 15th. Finally, Robert W. Baird upped their target price on Deere & Company from $501.00 to $514.00 and gave the company a "neutral" rating in a research note on Friday, May 16th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $515.50.

Deere & Company Company Profile

Deere & Co engages in the manufacture and distribution of equipment used in agriculture, construction, forestry, and turf care. It operates through the following segments: Agriculture and Turf, Construction and Forestry, and Financial Services. The Agriculture and Turf segment focuses on the distribution and manufacture of a full line of agriculture and turf equipment and related service parts.